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SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 26, 2021

Equity [Abstract]

Accelerated Share Repurchases

The details of shares repurchased as part of our existing share repurchase authorizations are as follows:

Fiscal year			Number of shares repurchased			Average price per share			Amount (in thousands)
2021
Open market purchases			620,280			$	26.90		$	16,678
2020
Open market purchases			779,068			$	15.85		$	12,346
ASR (1)			2,777,486			$	14.40		$	40,000
Total 2020			3,556,554			$	14.72		$	52,346

(1)    On February 28, 2020, we entered into an accelerated share repurchase (“ASR”) agreement with a third-party financial institution to repurchase our common stock. On July 2, 2020, we settled our ASR agreement, resulting in the receipt of a total of 2,777,486 shares over the term of the ASR agreement with a volume weighted average price of $14.40.

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- Definition

Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 25
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6405686&loc=d3e22802-112653

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- References

No definition available.

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